BDO plots $1bn rights issue to fund loan growth
BDO Unibank has set the price for a planned Ps43.5bn ($1bn) rights issue, getting closer to a deal that will help the bank boost its lending capability. It is the first rights issue in the Philippines for around a year and a half.
Metrobank was the last Philippine lender to close a rights issue, when it raised Ps10bn last January. There is no big pressure to launch rights or other capital-raising exercises in the country, since most Philippine banks are already comfortably in line with pending bank capital requirements.
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